Indiegogo, a popular crowdfunding site, recently made another incursion into the crypto industry, facilitating the sale of asset-backed tokens, which are classified as securities by regulators, on its platform.
According to information provided by The Verge, Indiegogo has begun the sale of shares in the St. Regis Aspen Resort. The Colorado-based hotel seems to be trying to raise $ 12 million for its shares, which took the form of "Aspen digital chips" in this unexpected move. As of August 24th, accredited US-based investors can purchase these ERC20-based security tokens through a SEC-registered broker-dealer, through US dollars, Bitcoin (BTC) or Ethereum (ETH).
In essence, holders of the so-called "Digen Digital token" will hold shares in the aforementioned resort, but through the digital support of a public blockchain. The Next Web "Hard Fork" column found that the ownership of these tokens can only be used as a price speculation tool, as there are no "physical benefits" involved in these tokens.
Issuing a statement on the manner, founder of Indeigogo Slava Rubin noted:
We have always endeavored to promote innovation and to provide our users with access to some of the newest products and ideas. and interesting from all over the world. With the blockchain revolution in full swing, we at Indiegogo are thrilled with the impact and potential of security tokens that change in the world.
To be slightly inconsistent with this statement, Indiegogo does not really play too big a role in this sale, the San Francisco-based crowdfunder startup that works on the promotional and marketing side of this sale. The Templum Alternative Trading System, a SEC-registered broker-dealer, will be the company that effectively facilitates the purchase and sale of tokens, along with the transfer of funds to the hotel's bank account.
At present, it seems that everything is about to plan the pre-STO, but only time will tell if Aspen can raise 12 million dollars as hoped.
The affection of Indiegogo with blockchain and crypt assets
This is not the first dance of startups with cryptographic assets, with Indiegogo promoting the ICO of a company (not STO) in December last year. This was not an unsuccessful venture, with Rubin noticing that the ICO was "fine", adding that the sale of tokens had reached its funding goals. But the success of the offers supported by Indiegogo does not seem to be a fortune, as the co-founder has emphasized that his company has a "team of diligence" to examine companies seeking promotion through the crowdfunding page.
Nonetheless The Indiegogo executive team still seems to have unbridled affection for cryptographic resources and their underlying technology. Speaking with CNBC, Rubin noted that blockchain offers will help "democratize access to capital" and open the door to the world of investment that is often exclusive to "all kinds of people" around the world.
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